Subsidy on Cold Storage
Subsidy on Cold Storage
Are you want to set up cold storage?
Are you know about subsidy on cold storage?
We are going to share with you Subsidy on Cold Storage Business.
There is need to development and support the agricultural field to the overall growth of the economy and meet the basic requirement of food in the country. For supporting agricultural sector, cold chains are created and to encourage development of cold chains, government is providing following subsidy schemes on setting up a cold chain.
Eligible Beneficiaries for subsidy on cold storage:
• Group of farmers,
• Proprietary firms,
• Self-help groups,
Financial Assistance/Subsidy/Benefits Available:
1. Agricultural Marketing Infrastructure under NABARD (Central Government):
The scheme provide following benefits for creation of cold storage with capacity of 50 MT up to maximum 10,000 MT:
i. 33.33% of project cost subject to maximum of Rs 1333.20 per MT for the North eastern states, Sikkim, UTs of Andaman & Nicobar and Lakshadweep Islands.
ii. 33.33% of project cost subject to maximum of Rs 1166.55 per MT for up to 1,000 MT and Rs 1,000 per MT for more than 1000MT for the registered FPO, Panchayats, Women, Scheduled Caste/Scheduled Tribe entrepreneurs of areas other than point i.
iii. 25% of project cost subject to maximum of Rs 875 per MT for up to 1,000 MT and Rs 750 per MT for more than 1,000 MT for all other categories of beneficiaries.
Time Limit to apply:-
Within 60 days of the disbursal of the first instalment of loan.
2. Agriculture Infrastructure Fund Scheme (Central Government Scheme):
The scheme provides financial assistance on setting up business of cold storage in form of Interest Subvention of 3% per annum for 7 years and credit guarantee coverage fees as facilitated by CGTMSE available on loan up to a limit of ₹ 2 crores.
Note: The scheme is in operation from 2020-21 and will remain in operation 2032-33.
3. Subsidy scheme under National Horticulture Board (Central Government Scheme):
Under the scheme, assistance is provided for setting up of new Multi-Chamber cold Storage units. The assistance will be given as subsidy @ 35% of the capital cost of project in general areas and 50% in case of Hilly States & Scheduled Areas for a storage capacity above 5,000 MT up to 10,000 MT.
4. Mission For Integrated Development of Horticulture (MIDH) (Central Government Scheme):
The scheme provides assistance in form of Capital subsidy @ 35% of the cost of project in general areas and 50% of cost in case Hilly & Scheduled areas, per beneficiary.
5. Haryana Enterprises and Employment Policy, 2020 (HEEP) (State Government Scheme):
The policy is applicable to the all entities setting business of cold chain having MSME and HUM Registration. It provides financial support in form of various subsidy schemes such as:
1. Electricity Duty Exemption: Max. 100% exemption on electricity duty for 12 years.
2. External Development Charges Exemption: Max. 100% exemption on charges paid for external development which includes Change of land use (CLU) charges, labour cess for the construction of building etc.
3. Stamp Duty Refund: 100% exemption on stamp duty paid on purchase of land for silo project.
So if you are going to plan for set up a New Business Unit then You should plan and kept on mind the above said policy.
Note: There are several other schemes under HEEP issued by state government, the quantum of benefits available under these schemes depend upon the block as specified by the government under which the entity falls.
Time limit to apply under HEEP:
Within 3 Months from the commencement of commercial production.
If you are planning to set up a Cold Storage, then you should plan accordingly and take maximum benefits.
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We at KIP Launched the Warehouse Business & Subsidy Updates Plan for the investors/ businessman, who are interested or doing warehouse business.
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